Rockets Owners Negotiating to Acquire Connecticut Sun, Reintroduce WNBA to Houston
The Houston Rockets are engaging in serious negotiations to acquire the Connecticut Sun, with plans to relocate the WNBA team back to Houston. Recent reports indicate that discussions between the Rockets’ ownership and the Sun management have been positive, as the Rockets have enhanced their offer, making it more appealing to the Sun. However, a formal purchase agreement has not yet been finalized.
Background on the Connecticut Sun
The Sun, currently owned by the Mohegan Tribe, relocated from Orlando, Florida, to Uncasville, Connecticut, in 2003. The franchise has been exploring investment options for over a year, with the aim of funding infrastructure improvements.
Recent Developments
- The WNBA has expressed interest in returning to Houston.
- In June, WNBA Commissioner Cathy Engelbert noted Houston and the Rockets as a key focus for the league’s expansion.
- Rockets’ owner Tilman Fertitta has publicly shown interest in bringing the team to Houston.
Financial Aspects of Potential Acquisition
Earlier this year, Houston was one of several interested parties looking to purchase the Sun. The Rockets subsequently increased their bid to $250 million, which aligns with the expansion fees paid by Cleveland, Detroit, and Philadelphia.
Previous Sale Attempt
In July, Sun ownership reached an agreement to sell the franchise for a record $325 million to a group led by former Celtics minority owner Steve Pagliuca. This deal aimed to move the team to Boston but was blocked by the WNBA. The league emphasized that relocation is determined by the Board of Governors and cities involved in expansion have priority.
Future Considerations
The WNBA proposed to acquire the Sun for $250 million to assist in relocating the team. Meanwhile, discussions on securing funds from Connecticut state affiliates for a minority stake in the franchise have also been identified, although progress has slowed.
Impending Risks and Timelines
There is hope for a resolution regarding the franchise’s future before the upcoming free agency period. Currently, the league and the players’ union are negotiating a new collective bargaining agreement, with a deadline set for January 9, 2024. The timing of free agency remains uncertain, complicating matters for all teams.
Historical Context
The Houston Comets, a prominent original WNBA franchise, enjoyed remarkable success, winning the league’s first four championships from 1997 to 2000. The Comets were recognized as a powerhouse in women’s basketball, featuring legends like Sheryl Swoopes, Cynthia Cooper, and Tina Thompson, before they disbanded after the 2008 season.
As talks continue, all eyes will be on the potential revival of WNBA basketball in Houston through the acquisition of the Connecticut Sun.
